2024 401k Maximum Contribution Limits

2024 401k Maximum Contribution Limits. In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023. The 401 (k) contribution limit for individuals has been increased to $23,000 for 2024.

The irs sets 401(k) contribution limits and typically increases them by $500 each year. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax.